Vancouver Real Estate Analysis for West End May 2009
June 15th, 2009 Categories: Real Estate, West End
Compared to April, Vancouver real estate in the West End saw May listings drop 12% to 201, having reached a record high in November. Sales climbing from 26 in January to 88 in May, which is the highest for the year. The days on the market for condos that sold dropped to 49, compared to 69 in January. The average selling price was $482,585. A whopping 85% of the sales were under $500,00 and the highest price was nearly $3M in the Shangri-la. The list price to sale price ratio flat at 96%. The West End inventory dropped again to just only 2.2 months, down from 9.7 months in January. The average $ pr sq ft for those West End condos that sold is down slightly to $541, compared to $471 in November. The market under $500,000 has the most demand (in February it was the market under $300,000). Higher price ranges still soft. Prices at the bottom now moving up.
Listings – 201. 27 listed under $300,000 (including 5 under $200,000). 55 listed between $300,000 and $400,000. 37 listed between $400,000 and $500,000. 48 listed between $500,000 and $1M and 34 listed over $1M.
Least expensive - $159,00 for a leashold studio
Most expensive – $5,888,000 for 4500 sqft in Shangri-la. View it
2008 Listings - Jan 168, Feb 172 , Apr 232 , May 241 , June 235, July 235, Aug 246, Sept 257, Oct 268, Nov 281, Dec 242
2009 Listings – Jan 253, Feb 274, Mar 254, Apr 228, May 201
2008 Sales – Jan 57, Feb 53, Mar 42, Apr 45, May 38, June 29, Jul 25, Aug 25, Sept 29, Oct 16, Nov 15, Dec 21
2009 Sales – Jan 26, Feb 34, Mar 56, Apr 73, May 88
Sales 88. Four sold under $200,000. 16 sold between $200,000 and $300,000. 35 sold between $300,000 and $400,000. 19 sold between $400,000 and $500,000. 10 between $500K and $1M. 2 sold between $1M and $2M and 2 sold over $2M. Only 5% selling over $1M.
Least expensive - $152,000 for a studio in a leasehold building, 430 sqft
Most expensive - 2681 sq ft for $2,880,000 in Shangri-la, more than the pre-sale price
2008 Average Days on Market – July 51, Aug 57, Sept 65, Oct 45, Nov 48, Dec 53
2009 Average Dasy on Market – Jan 69, Feb 44, Mar 67, Apr 51, May 49
2008 Average Sale Price – Jan $592,298. Aug $392,000 Sept $447,834, Oct $370,468, Nov $375,433, Dec $407,357
2009 Average Sale Price – Jan $447,226, Feb $477,545, Mar $443,480, Apr $521,593, May $482,585
In Dec’07 the average sale price was $541,000 in Dec’05 it was $333,000. In Dec ‘06 it was $414,000.
2008 Average Selling Price $ pr sq ft - Dec $512, Nov $478, Oct $505 Sept $526, Jul $556, Jun $553, May $544
2009 Average Selling Price $ pr sq ft – Jan $528, Feb $525, Mar $526, Apr $558, May $541
2008 List Price to Sale Price Ratio - Dec 93% ,Nov 93% , Oct 95%
2009 List Price to Sale Price Ratio – Jan 94%, Feb 94%, Mar 94%, Apr 96%, May 96%
When you’re ready to buy or sell West End or Vancouver real estate, contact Maggie, an experienced realtor, marketing Vancouver homes since 1981
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